H S B C

I have taken the advice found here and opened an HSBC account. I got my ATM card in the mail the other day and in another ten days will be able to take it to Mexico and try it out! I'll let you folks know how it goes.

In Guadalajara last Thursday and Friday, by the way, the changemakers were giving five or six more pesos per hundred dollars than one of the banks I happened to notice (not sure which bank, but it was 10.99 versus 11.04 or 5). Is this the way things usually work? I had thought banks would be more generous....I felt like I was so smart because I had a bunch of hundreds in my pocket!

Re: HSBC-Chase Manhatten interface

Well, I got all the numbers set up on the computer and took my ATM card to my regular bank down on the corner here in Michigan, just to see if it worked. It did work, although it cost me $3.50 to confirm it because HSBC charges a buck and a half for using Chase Manhatten's machine and Chase charges two bucks for using HSBC's card.

The real test will come in a couple weeks when I use the card at HSBC in Tepic and then compare the outcome with the moneychangers on Av. Mexico.

Re: [db52] H S B C

Be sure & get those 100s broken down into smaller bills. A lot of places you may find yourselves in Mexico will not be able to give change for 100s. Some cannot give change for 20s. Getting older and still not down here.

Re: [Ron Pickering W3FJW] H S B C

Well, there were casas de cambio in Guad that didn't want anything BUT 100's! I am not stupid enough to run out of money in some little town with only 500 people or to try and change a hundred dollar bill with a tamale vendor at six in the morning. I am going to call the HSBC folks before I leave and find out if I'll have to notify them every time or not. Chase wants me to call them each time and I think they even asked me "where in Mexico?" once. I know for sure they can change hundreds in Tepic.

Re: [db52] H S B C

I am going to call the HSBC folks before I leave and find out if I'll have to notify them every time or not. Chase wants me to call them each time and I think they even asked me "where in Mexico?" once.

There is a difference between an HSBC ATM card and a Chase credit card. This has been my experience with each:

The HSBC ATM card was never questioned (much less confiscated) in SMA where I made regular withdrawals nor from ATM kiosks elsewhere in Mexico or the USA.

The Chase card was funny. I have had even small purchases declined both in Mexico and the USA. After a conversation with one of their fraud prevention folks, I learned that the system relies on a computer profile of customary purchases. After several consecutive months of purchases in Mexico, the first charge at WalMart or Golden Corral in McAllen would set off a red flag. Likewise, after a weeklong shopping binge in the US, my first charge back in SMA set it off again. I was advised to call Chase each time I intended to cross the border in either direction and tell them the expected duration. Even that did not guarantee against the embarassment and inconvenience at having purchases declined until a call to customer service could be made to clear it up.

Re: [Ron Pickering W3FJW] H S B C

I didn't mean anything except that I've never carried anything but hundreds and never had a problem yet--but, come to think of it, one guy last week took possession of a couple of yard-notes and mumbled something and booked off down the street. He'd been standing in front of the joint and not inside in the cage. First thought was that he was going to a different cambio place to change them, but then I looked at my wife and said "I'm not even sure that guy really works here! Maybe we'd better keep him in sight." It all worked out OK, though, but for a minute I thought I'd met a genuine 'city-slicker."

Re: [db52] H S B C

Remember, you can link your regular bank account to the HSBC online account and transfer funds anywhere in the world. I have transfered funds from Istambul, Turkey and from Cotija, Michoacan from B of A to HSBC and was able to withdrawl money within two days. Good luck! The more I learn, I less I know.

Re: [db52] H S B C

Please, I'm a newbie. What the heck is HSBC? The use of acronyms is an American curse. It makes us feel like insiders. Maybe we need (or is there already a place) a list of acronyms somewhere on Mexico Connect.

Re: [Zorro13] H S B C

Please, I'm a newbie. What the heck is HSBC? The use of acronyms is an American curse. It makes us feel like insiders. Maybe we need (or is there already a place) a list of acronyms somewhere on Mexico Connect.

I don't think it's fair to blame America for this acronym. The letters stand for Hong Kong and Shanghai Banking Corporation. It actually has a lot more branches in Mexico than it does in the US. Here is more if you are interested:

Re: [Zorro13] H S B C

HSBC is the 3rd largest banking corp in the world. They are headquartered in London and got into the US market around 10/15 years ago when they bought the Marine Midland banks in New york State. they have since expanded into different markets in the US but are not as concentrated anywhere in the US like they are in NY state. I live on the Pa/NY border and have been using HSBC as my bank in the states mainly because a few years ago they also bought Serfin bank in Mexico and I think they are now the 4th or 5th largest bank in Mexico. I have a beach house near Tulum, Q Roo. Tulum has 2 banks, Bancomer and HSBC. I constantly use the ATM card for free at HSBC branches in Mexico or anywhere else in the world. When I used it at the Bancomer ATM in Tulum I have only been charged $1. Not sure why but that's it.

When I use a credit card in Mexico I get hit with a 3% currency conversion charge, (1% from Mastercard and 2% from the credit card bank) HOWEVER, when I use my HSBC Mastercard credit card for any purchases I only get charged the 1% from Mastercard. HSBC charges me nothing. (Not sure if that is the norm or if I've been lucky, but I like it.)

HSBC also has the online savings account that pays 5.05% interest and they pay 5.25% on CD's I don't have a Mexican account yet because I haven't yet needed one. Currently their US operations don't have a connection to the mexican ops so I couldn't transfer money for free etc. IF I had $100,000 in accounts and/or brokerage with HSBC, I could qualify for a Premier level of service and then I could transfer etc for free between any of their branches in the world. Stan

Re: [esperanza] H S B C

Re: [song_of_joy] H S B C

If any of you think the Mexican subsidiary of the London based HSBC is anything remotely akin to your HSBC branch in Chicago or Kuala Lumpur you are a complete fool. Climb back on the turnip truck and follow the yellow brick road to nadaland, basketball brain.

Re: [song_of_joy] H S B C

HSBC is many things and in some jurisdictions it is, no doubt, business friendly but the huge international bank HSBC is what it is where it is and what it wants to be. I can tell you this. HSBC Mexico is in existence for the same reason that other such intrenational banks are in business with subsidiaries in Mexico. They bought the BITAL franchise for a song from fools selling franchises they misunderstood and underestimated. HSBC and BBVA and other international banking institutions came into Mexico and bought bags of undervalued stores of wealth from hillbillies and they have since taken the Mexican public to the cleaners. In this poor country they rip off their customers because their customers are not aware of what they should be getting for their pesos.

Am I the only person posting hereabouts who comprehends that Mexican banks are Mexican banks no matter what they are called or who owns them? Hello!

Re: [Bubba] H S B C

Re: [Bubba] H S B C

Bubba, I believe this thread started talking about using an HSBC ATM card. I answered what I knew of how HSBC was. I was in error when I mentioned the wrong Mexican bank they purchased. I for on didn't tout the benefits or lack same by using the Mexican branches for anything other than ATM usage. As I said I use HSBC in the states and they are a very good bank for my purposes. They don't charge as much for using theior credit card or ATM card in Mexico. In those instances I thin they are very good. I have yet to hear much of anything good about any Mexican bank and I think their banking rules pretty much suck. However people do have to use Mexican banks. Rather than just trying to insult people for posting ideas maybe you coulf try being helpful and add some useful info about Mexican banks. I for one would appreciate it. I've seen "Bubba' posts that really help and enjoy. On the other hand I see too many "Bubba" posts that are more hurtful than helpful. What a shame to waste knowledge in such a way.... Stan